Job Loss: What To Do Next

You faced your boss and found out you wouldn’t be working for your company any longer. Most likely, you did a lot of wondering, worrying, and working at trying to find a new job over the last few days.

A good step to take at this moment is to come to the realization that you need to amp things up. Right now, you are an unemployed mortgage borrower who has a need to get into a new position quickly, so you do not fall behind on your payments. It goes without saying that you need to move quickly. However, to do so, it’s time to refocus a few areas and begin to create the best possible image of yourself for the next potential employer you meet. Here’s what you should be doing now.

Budget First

With a lost job mortgage payments are going to become harder to make starting with this month. For this reason, focus on reworking your budget to ensure your mortgage payments are made on time every month. Once you work on your budget, you’ll know exactly what you have each month. This gives you some sense of control over what is to come. There are a few key things to keep in mind:

Create a new budget based on the cash you have coming in, such as from a spouse or unemployment.

Don’t use credit. Be sure you are minimizing the use of credit to avoid larger bills and a hit to your credit score.

Cut out everything you can from your budget that isn’t necessary such as eating out or going to the movies.

Talk to your utilities to see about lowering your payment. Some offer hardship programs that reduce some of costs.

Talk to your lenders to find out if they can give you a month off from making payments. Some may offer a one-month skip payment.

Work on Your Resume

Now it’s time to shine to the employers who contact you. Even before (or while) you’re applying for jobs, be sure to focus on improving your resume. Look at your LinkedIn profile as well. How can you build it out to make it more appealing to recruiters?

This is the time to evaluate your career and your goals. What do you want to do? And, considering that, what do you need to do to qualify for a position? Focus on what you want to do next, not necessarily the same position you had.

Look at people on LinkedIn working in the jobs you hope to be in. Notice the types of detail they offer on their resume. Incorporate this to your own.

Refresh your resume to be keyword-friendly. That will allow more of the automated tools to pick up on the skills you have.

Networking is at the heart of getting a new job today. This doesn’t just mean LinkedIn. Look for local Facebook groups relevant to your industry.

Talk to a licensed HomeGo agent today.

Start Your Job Search

When you are facing job loss mortgage payments cannot wait. That’s why you need to make finding a job your day-to-day effort. If you were dedicated to working eight hours a day at your previous job, put in that amount of time to find a new job. Websites like Indeed have become one of the best ways to locate positions. However, it is also important to think outside the box:

Is there a specific company you would like to work for? Visit their website to find available jobs. Apply even if they don’t have a position in your field.

What about the city? Are there any types of job openings in your city that could fit your goals?

Consider volunteer work. Many organizations offer full-time jobs to people who are volunteers for some time. Which organizations provide volunteer work related to your skills?

Network with everyone – family, friends, neighbors, and even the person you say hello to each day at the gas station.

Work part-time. A job of any type is beneficial as long as it does not put your unemployment benefits on the line.

HomeGo Can Help.

For many people, selling their house in as is condition is the simplest, most straightforward solution to job loss.

HomeGo is the nation’s largest home buying company, and we’re bringing professional experience, transparency, and assurance to homeowners who want an easier way to sell.

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